Omega-3 ingredients are highly sought after because of how well-liked they are among consumers. Omega-3 ingredient sales reached US$ 7.4 billion in in 2023, rising at a CAGR of 10.8% over the projection period. By 2033, the omega-3 ingredients market is anticipated to bring in US$ 20.6 billion.
Market for Omega-3 Ingredients Growing Consistently
Omega-3 ingredients are quickly taking over the dietary supplement food pyramid. Suppliers are developing tactics that emphasise the preventative role of polyunsaturated fatty acids (PUFAs) in reducing the prevalence of chronic diseases, even as the omega-3 ingredients market continues to profit from the increased consumer knowledge.
Remunerative Opportunities for the Manufacturers
The marketing activities of market participants in omega 3 ingredients are being supplemented by several government programmes to encourage proper intake of omega-3 ingredients.
The omega-3 ingredients market’s demand-side developments continue to be positively influenced by suppliers’ continued focus on ensuring a continuous product supply. The Omega-3 ingredients generated from fish oil continue to dominate market sales, making up about 90% of total sales of omega-3 ingredients.
As the vegan movement continues to spread and consequently fuel the demand for vegan supplements, components derived from plants are set to take centre stage.
Suitable Sources Uphold Supply Efficiency Provides the Manufacturer with Potential
The health and wellness trends have already been embraced by consumers in developed countries, and current trends in relevant consumption behaviours have increased. The outlook for the market for omega 3 ingredients in these economies is still positive as public awareness of their health benefits, including the inclusion of PUFAs in a regular diet, increases.
North American Outlook
The omega-3 ingredients market with the largest revenue share was dominated by North America. This is due to the existence of well-known producers of pharmaceuticals based on omega 3. The presence of significant pharmaceutical businesses in this area fuels demand.
The market in North America is anticipated to rise as a result of rising omega-3 intake in the pharmaceutical industry and expanding research and development efforts on the product.
Asia Pacific Outlook
The Asia-Pacific region places unmatched priority on omega-3 in baby nutrition, which has resulted in a huge market for omega-3 ingredients. The Asia-Pacific market is being driven by the rising demand for baby nutrition, which is being backed up by the benefits it offers to pre- and post-natal health.
The capacity of the product to support long-term health along with the growing significance of omega 3 DHA for the development of the baby nervous system, vision, and brain are predicted to propel market expansion for omega-3 ingredients in the next years.
Key Takeaways
- Eicosapentaenoic Acid may experience growth in the ingredient category for the omega-3 ingredients market at a CAGR of 10.4% throughout the projection period.
- Dietary Supplements may expand in the market’s application category with a CAGR of 9.8% over the forecast period.
- The U.S. market is expected to expand at a CAGR of 9.8% and reach US$ 3,7 Bn.
- During the anticipated period, the Brazil market is expected to expand at a CAGR of 11.8% and reach US$ 1.1 Bn.
- The Chinese market is anticipated to increase at a CAGR of 15% and reach US$ 2.2 Bn during the anticipated time period.
- The Japan market for omega-3 ingredient is projected to expand with a CAGR of 9.0% and achieve US$ 1.2 Bn during the forecasted period.
- The market in South Korea is anticipated to grow at a CAGR of 9.3% and reach US$ 82.9 Mn over the anticipated timeframe.
Competitive Landscape
The omega-3 ingredients market is dominated by a select group of companies, including Archer Daniels Midland Company, BASF SE, Cargill Inc., Koninklijke DSM N.V., and Corbion NV. The impact of strategic alliances, investments, mergers, and acquisitions can be seen most clearly in the market for omega-3 components.
The deployment of new advertising campaigns by businesses like Koninklijke DSM N.V. and BASF SE is expected to have a substantial impact on the segment growth. Additionally, omega-3 fatty acids are becoming more and more important on a global scale.
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Recent Development
- GC Rieber VivoMega, a producer of Omega-3 concentrates, declared in October 2021 that it would be enlarging its production facilities and storage tanks to make room for more components in the following years.
- AlgaeCytes Limited declared plans to erect its first industrial facility in Dessau, Saxon-Anhalt, Germany, in May 2021. AlgaeCytes Germany GmbH, a subsidiary of the Company, will own and run the factory.
- KD Pharma Group unveiled Alga3, a vegan, sustainable omega-3 supplement, in September 2021. Omega-3 concentrates in a variety of forms can be produced thanks to KD Nutra’s cutting-edge technology and production versatility. As a result, the business can adjust the EPA and DHA ratio to meet the demands of each individual customer, and there is an Alga3 plant-based alternative for any kd-pür fish oil.
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